Quality:Regarding the qualityof his paper, firstly, one can see that as of 11-01-18 Kaldor has been cited2673 times. This however is only an indicator of popularity and not quality.
Secondly,regarding the amount of citations, his paper outranks any other regarding thesame topic. Thirdly, the fact that the economic journal, one with a highreputation for quality, published his paper. And finally, throughout his paperKaldor keeps a clean structure of argumentation and citations. All in all,strong indicators for a good scientific paperSummary: In his paper (A Model of Economic Growth, published inDec. 1957 by Wiley, Nicholas) Kaldor modifies the economic model of Harrod. Hepostulates that production factors such as changes in technology are of more importancehis predecessors assumed to be. To support this, he identifies two factors ofproduction; Labour and Capital as well as two factors of income; Profit andWages. He suggests that the Capital/Output ratio and rate of profits earned investmentsare constant in the long run.
This implicates that in equilibrium an economywill always converge to a state of full employment. In his own model that Kaldor concludes that advancementsin technology are the main driver for growth in output. He postulates that anyincrease in capital per worker is associated with some new technology and viceversa.
Hence, in the long run any changes in the production function are to beexplained by a technological advancement implemented or yet to be implemented. Kaldor distinguishes two cases for his model. Firstly,a constant working population and secondly, an expanding population. For bothcases he shows that under his economic model, firstly in the long run aneconomy will always converge to a state of full-employment and secondly, thatthe main drivers for growth are technological advancements. Kaldor distinguishes two stages of capitalismfollowing a major technological advance.
The First stage is an accumulation of capitaluntil one has reached the desired level. This is followed by the second stagewhere production, employment and wages grow. Kaldor concludes that when considering that his model solelyholds in the long run, his assumption of technological advances as the driverare true. However, he points out that they are not stable, and that theoccurrence of a ground-breaking invention is almost completely arbitrary. Hencehis model will only be stable in the long run.